Many experiments have shown that quantum entanglement is physically real. In this paper, we will discuss its ontological origin, implications and applications by thinking outside the standard interpretations of quantum mechanics. We argue that quantum entanglement originates from the primordial spin processes in non-spatial and non-temporal pre-spacetime, implies genuine interconnectedness and inseparableness of once interacting quantum entities, plays vital roles in biology and consciousness and, once better understood and harnessed, has far-reaching consequences and applications in many fields such as medicine and neuroscience. We further argue that quantum computation power also originates from the primordial spin processes in pre-spacetime. Finally, we discuss the roles of quantum entanglement in spin-mediated consciousness theory.